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Head of Nigeria’s legislature comes under probe in Seychelles-Report

Authorities in Seychelles have opened a criminal investigation into the multi-million dollar assets which Senate President Bukola Saraki and his wife, Toyin, are believed to hold through offshore shell companies in tax havens, PREMIUM TIMES can report

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Authorities in Seychelles have opened a criminal investigation into the multi-million dollar assets which Senate President Bukola Saraki and his wife, Toyin, are believed to hold through offshore shell companies in tax havens, PREMIUM TIMES can report.

Bukola and Toyin Saraki are being targeted by financial intelligence operatives for their “suspicious” use of offshore shell companies as uncovered in the Panama Papers investigation published in 2016, according to new records obtained by the International Consortium of Investigative Journalists and shared with PREMIUM TIMES and other partners.

Investigators at the Seychelles Financial Intelligence Unit said they are interested in determining whether or not Mrs Saraki stood as a front for her husband in the ownership of some of the offshore holdings linked to the family when a trove of offshore assets managed by Panamanian law firm, Mossack Fonseca, was leaked to the media.
The investigators are also working to determine if the transactions undertaken with the shell companies were used to launder funds or carry out other suspicious activities.

Two weeks after the Sarakis were exposed as owning undeclared offshore assets in violation of Nigeria’s code of conduct regulations, detectives from that country’s FIU asked Mossack Fonseca to furnish them with all documents relating to Sandon Developments Ltd, a firm registered in Seychelles under Toyin Saraki’s name.

Mossack Fonseca responded to the request on April 29, 2018, by forwarding a link to the PREMIUM TIMES article on the Panama Papers as well as all documents relating to Sandon Ltd, including international passports and business activities.

The status of the investigation, however remained unclear as there is no record of any update about it since Mossack Fonseca responded to the authorities’ requests at the end of April 2016.

Mrs Saraki registered Sandon Ltd in 2011 and used it to buy a family property at #8 Whittaker Street, Belgravia, London SW1W 8JQ.

Mr Saraki denied links to the offshore assets in 2016, saying they belonged to his wife’s family. But information obtained by PREMIUM TIMES at the time indicated that the Senate President merely used his wife as a front, and Seychelles authorities also found the denial unconvincing.

The revelations were amongst the findings of a lengthy investigation by the International Consortium of Investigative Journalists, German newspaper Süddeutsche Zeitung and more than 100 other global news organizations – including PREMIUM TIMES.

Politics

Congo DR: President Tshisekedi reshuffles cabinet, appoints ex-vice president, Bemba as defence minister

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Former vice president of the Democratic Republic of Congo, Jean-Pierre Bemba, has been appointed as the country’s defence minister in a sweeping government reshuffle.

President Felix Tshisekedi has appointed Bemba who was detained for over 10 years for war crimes as part of an overhaul of the 57 members of government, which the president’s spokesperson said was “urgent and necessary”, in an announcement on Congo’s national television late on Thursday. No further details were given.

President Tshisekedi appointed Vital Kamerhe, his former chief of staff who was released from prison in Dec. 2021 following an embezzlement conviction, as economy minister while Nicolas Kazadi continued as finance minister.

The reshuffle is more extensive than predicted by observers. One notable commentary has been from the Director of the Congo Research Group and a Professor at Canada’s Simon Fraser University, Jason Stearns, who stressed that the exercise was “a deeply political shuffle,”

“Key positions are given to senior politicians who have large constituencies to please but little expertise in their new ministries. Kamerhe is not an economist. Bemba was a rebel but has little formal military training,” he said.

Presidential and parliamentary elections are scheduled to hold in Congo DR on December 20, 2023, kicking off a year of complex preparations in the vast Central African country, large parts of which have been overrun by armed groups.

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Politics

Confusion as Nigeria’s ruling party, APC suspends secretary to government, Boss Mustapha

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Nigeria’s ruling party, the All Progressives Congress (APC) has suspended Boss Mustapha, secretary to the government of the federation of Nigeria (SGF).

Mr. Mustapha was suspended by Gwadabawa ward, Yola north LGA of Adamawa state, as announced by Mu’azu Kabiru, chairperson of APC Gwadabawa, who said Mustapha failed to assist the party at the ward level when his attention was needed.

Kabiru said the SGF has failed to recognise the importance of the party’s executives in Gwadabawa who have worked to keep the ward united.

The suspension has however The acting chairperson of the APC in Adamawa, Samaila Tadawus, dismissed the suspension, saying that it was unconstitutional.

It should be recalled that Nigeria recently held general elections recently as President Muhammadu Buhari, who has been in office since 2015 will be completing his second term of four years by May 29.

The elections ushered a new political wave traceable to the presidential candidacy of dark-horse, Peter Obi of the Labour Party who appears anti-establishment and an appealing candidate to the demography of young voters. Obi came third at the national polls in the February 25th elections but his popularity has influenced victories for less popular candidates of the Labour Party at different levels across the country.

The opposition’s Peoples Democratic Party (PDP) presidential candidate, Atiku Abubakar, won the Yola north LGA which is Mustapha while Aisha Binani, the governorship candidate of the APC, won the LGA but not by a wide margin during the governorship election.

Anti-party activities, that is, being engaged in activities that undermine or are detrimental to your political party, or may ruin its chances at the polls or bring it into disrepute, are common in Nigeria during election season. Perfect, the most notable in the 2023 election season was PDP’s G-5 governors who openly worked against the candidate of the party in the presidential poll.

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